Old Republic price target raised to $47 from $45 at Piper Sandler

Piper Sandler analyst Paul Newsome raised the firm’s price target on Old Republic (ORI) to $47 from $45 and keeps an Overweight rating on the shares. The firm is adjusting price targets for some of its companies as a result of shifting peer group multiples over the last month or so. Broker multiples are generally lower. Carrier valuations are more mixed, Piper adds.